Monday April 12, 2021
Bitcoin (BTC) $60,158.00   Ether (ETH) $2,144.59
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Services

Circle announces USD Coin, Bitmain partnership and new investment

Published by CryptoNinjas.net
05/15/2018
Circle announces USD Coin, Bitmain partnership and new investment

Today, digital payment app Circle announced the pending availability of tokenized US dollar coins supported by developments in the CENTRE open source consumer payment framework and by a new partnership with Bitmain, which is also leading a $110 million Series E equity investment in Circle.

Circle USDC (USD Coin) is a solution that enables customers to purchase and use USDC fiat tokens for payments and trading in the crypto ecosystem. USDC provides a full reserve US dollar-backed stablecoin and is based on the open source fiat stablecoin framework developed and governed by CENTRE, which will provide independent oversight of Circle’s offering.

Existing fiat-backed approaches have lacked financial and operational transparency, have operated in unregulated jurisdictions with unknown banking and audit partners, and have been built as closed-loop ecosystems and closed proprietary technologies.

Circle USDC addresses these problems by providing detailed financial and operational transparency, operating within the regulated framework of US money transmission laws, and reinforced by established banking partners and auditors. It is built on an open source framework with an open membership scheme that eligible Financial Institutions (FI) can participate in (CENTRE). USDC will be ERC-20 tokens minted, issued, and redeemed based on network rules defined by CENTRE.

Circle will only be the first issuing member of the CENTRE crypto consumer payment network, and further tokenized fiat stablecoins may be issued by other audited, licensed, participating network members.

Strategic Financing and Bitmain Partnership

Bitmain is becoming a key supporter of CENTRE and USDC, and in conjunction with this new partnership, Bitmain is leading a $110 million strategic investment in Circle. Also participating in this financing round are existing investors IDG Capital, Breyer Capital, General Catalyst, Accel, Digital Currency Group, and Pantera, along with new investors Blockchain Capital and Tusk Ventures.

Bitmain is one of the most important and forward-thinking companies in crypto and has become a critical infrastructure provider for the entire crypto economy. Bitmain Co-founder and CEO Jihan Wu is well known for espousing a vision similar to ours regarding the creation and adoption of a new global economy powered by cryptographic assets, distributed contracts, and open source blockchain technology. We are excited to be working directly with Bitmain on realizing our shared vision.

Bitmain will also join CENTRE’s efforts to introduce multiple fiat-backed stablecoins and provide financial interoperability around the world in a variety of geo-currency zones. This partnership will help drive global interoperability that benefits consumers, business ventures, institutions, and marketplaces everywhere.

9
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Core Scientific and Horizon Kinetics expand investment in next-gen crypto mining equipment
Featured

Core Scientific and Horizon Kinetics expand investment in next-gen crypto mining equipment

07/02/2020
Avalanche raises $12M in private token sale led by Initialized, Galaxy, Bitmain, NGC and Dragonfly Capital
Capital Raising

Avalanche raises $12M in private token sale led by Initialized, Galaxy, Bitmain, NGC and Dragonfly Capital

06/25/2020
Bitmain holds live AMA session with BigONE Exchange
Events

Bitmain holds live AMA session with BigONE Exchange

02/18/2020
Voyager acquires Circle Invest’s 40,000+ cryptocurrency accounts
M&A

Voyager acquires Circle Invest’s 40,000+ cryptocurrency accounts

02/12/2020
Crypto exchange company Kraken grows OTC desk acquiring Circle Trade
M&A

Crypto exchange company Kraken grows OTC desk as it acquires Circle Trade

12/17/2019
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
XRP Ledger based exchange Sologenic launches its new DEX

XRP Ledger based exchange Sologenic launches its new DEX

03/31/2021
DEX liquidity provider PancakeSwap now available on SWFT Blockchain

DEX liquidity provider PancakeSwap now available on SWFT Blockchain

04/09/2021
ICON blockchain core developers add integration with Polkadot ecosystem

ICON blockchain core developers add integration with Polkadot ecosystem

04/03/2021
Crypto trading app Orion Terminal now live, offering BSC and ETH chains, staking to come

Crypto trading app Orion Terminal now live, offering BSC and ETH chains, staking to come

04/06/2021
Ubitquity teams with VeChain on blockchain-powered tools for the global title industry

Ubitquity teams with VeChain on blockchain-powered tools for title industry

03/30/2021
Decentralized cloud storage aggregator ColdStack gets investment from Digital Finance Group

Decentralized cloud storage aggregator ColdStack gets investment from Digital Finance Group

04/09/2021
C.R.E.A.M. Finance's Iron Bank to bring protocol-to-protocol flash loans to DeFi 

C.R.E.A.M. Finance’s Iron Bank to bring protocol-to-protocol flash loans to DeFi 

04/09/2021
Smart contract platform Avalanche integrates The Graph to expand querying and indexing

Smart contract platform Avalanche integrates The Graph to expand querying and indexing

04/09/2021
NFT blockchain technology provider Arkane Network closes €1.55M seed round

NFT blockchain technology provider Arkane Network closes €1.55M seed round

04/09/2021
mWallet: ProximaX's blockchain-powered white-label mobile wallet

mWallet: ProximaX’s blockchain-powered white-label mobile wallet

04/09/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

Go to mobile version